Assessment Team and Key Partners Weigh In on National Climate Change and Disaster Risk Finance
A comprehensive assessment of Kiribati’s climate change and disaster risk finance has been concluded by a delegation of experts from the Pacific Climate Change Finance Assessment Framework (PCCFAF). The assessment team, comprising representatives from the Government of Kiribati, the Ministry of Finance and Economic Development (MFED), the Climate Finance Division (CFD), and other national stakeholders, engaged in extensive consultations with government officials, civil society organizations, private sector entities, donors, and faith-based groups to inform their findings.
Key Findings and Recommendations
The assessment highlights the complexities faced by Kiribati in accessing and managing climate change and disaster risk finance, with an increasing number of sources and varying rules and regulations. To address these challenges, the team recommends a range of measures:
Institutional Strengthening
- Develop an M&E framework and process for the revised Kiribati Joint Implementation Plan (KJIP) to ensure streamlined reporting on indicators and outcomes
- Establish clear policy guidelines on financial information flows between government and donors during budget formulation and execution
- Review the scope and mandate of the Kiribati Financial Services Unit (KFSU) to expand its function within the government’s budget and planning system
- Strengthen public finance management through a PFM Roadmap that incorporates medium-term budget frameworks, treasury operational manuals, chart of account coding, and asset and liability management frameworks
Climate Finance Roadmap and Decision-Making Tools
- Develop a National Climate Finance Roadmap to guide progress towards identified climate finance outcomes for 2020 and beyond
- Conduct detailed analysis of the existing KIVA data to ensure its effectiveness as a CCDRM decision-making and planning tool
- Establish a TK working group to explore how traditional knowledge (TK) can be harnessed to support CCDRM awareness raising and adaptation programs
Donor Support and Capacity Building
Donors are urged to provide targeted support to improve Kiribati’s public finance management system and enhance the country’s capacity to access and manage climate change and disaster risk finance.
Conclusion
The full report of the assessment is expected to be released in the coming weeks. The assessment team emphasizes the need for institutional strengthening, particularly in key implementing ministries such as CFD-MFED, OB, and MELAD, to improve their linkages with KFSU and Budget and Planning through financial regulations and instructions.
By addressing these challenges and building capacity, Kiribati can better access and manage international climate finances to support its efforts in adapting to climate change and reducing disaster risk.